Betterment at Work has rolled out a product that lets small businesses automatically match workers’ student loan payments with 401(k) contributions.
Betterment’s solution arrives as a provision of the SECURE 2.0 legislation goes into effect that makes employees’ qualified student loan repayments eligible for 401(k) matching contributions from their companies.
"We know that student debt can be a major impediment to saving for retirement," Sarah Levy, CEO of Betterment, said in a statement. "Our industry-first student loan 401(k) matching solution is a compelling addition to our modern 401(k) that will help to broaden plan participation to those whose student debt previously kept them from saving for retirement."
Workers can record qualified loan payments on Betterment’s 401(k) platform and their employers can then match those with a contribution to the workers’ 401(k) accounts.
The solution lets employers make the match on loan repayments annually, even if they make other 401(k) matches at each payroll period.
Salespeople at the firm often went beyond the matching algorithm to recommend network advisors on its Zoe Wealth platform, according to the regulator.
The Protect College Sports Act would cap school payments and codify NIL rights, with implications for advisors guiding young athletes.
"I know the number that I want to be able to retire on, and now I just want out," says Wilmington Trust's Marguerite Weese, describing a common refrain among business-owner clients.
Bessemer and Brown Brothers Harriman veteran Robert Ludricks III and private markets specialist Olof Akesson join the ultra-high-net-worth push on the East Coast.
765 investors were promised 260% annual returns on truck leases
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
